Chinas Meituan Denies Plans For A Secondary Listing On The Mainland

Hong Kong-listed Meituan, China’s food delivery giant, said on Tuesday that it has no plans nor a timetable for a secondary listing on the mainland.

Bloomberg reported earlier that Meituan was considering a secondary listing in China as soon as next year, citing unidentified sources.

Meituan was considering ChiNext, a Nasdaq-style board under the Shenzhen Stock Exchange, among potential listing venues in mainland China, Bloomberg reported.

Meituan shares were up as much as 2% after the second lisiting news in early afternoon.

The on-demand service giant, whose apps range from grocery delivery to hotel booking, is expanding into new areas such as fresh food – a sector boosted by pandemic lockdown measures.

Shares of Meituan have been more than quadrupled since its debut in Hong Kong two years ago.

Reuters